Estonian startup Scorestars, which builds a basketball fan engagement platform, secured €725К in seed funding this week. The investment, led by Trind VC, Startup Wise Guys, 3 Comma Capital, and Estonian angel investors, will helps the company to expand the team and add new markets.
Fantasy sports games have existed for over six decades, but they haven’t reached their full potential due to a lack of interactivity and engagement, argues the startup. The opportunity is big — global fantasy sports market size was valued at $24.52 billion in 2022 and is expected to reach $90B by 2031, according to research. Younger fans, no longer glued to TVs to watch full games, are eager for new mechanics to engage with basketball.
Founded by Samuel V., Marek Kesküll (CEO) and Martin Lond in 2020, Scorestars develops a unique way for fans to engage with basketball. Its platform allows users to collect digital cards of their favourite players and participate in a fantasy basketball game. Users act as team managers, selecting favourite athletes for the virtual basketball court, with scores automatically translated into leaderboards based on real-life performances.
Scorestars founding team and investors
This game isn’t just for fun; it offers real prizes, ranging from VIP experiences to gadgets like PlayStations and iPhones. “Sports fandom is rapidly growing, and we believe there’s a massive opportunity to engage the younger generation in a new, more thrilling way,” adds Kesküll.
Scorestars isn’t just focused on local basketball. The team has already forged partnerships with major basketball leagues in Turkey, Israel, Lithuania, and the Basketball Champions League. With this new funding, they plan to expand their marketing efforts and hire new talent, aiming to become the go-to companion app for sports fans.
Ivar Siimar, Partner at Trind Ventures, says, “We met the founders for the first time when the company was in the idea stage, and since then, they have achieved milestone after milestone.”
With 300,000 game plays and 2,000 transactions by European basketball fans, most users are currently males aged 18 to 28. However, the platform, growing at 4000% yearly, anticipates an increasing trend of female sports followers joining.
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